Washington Post to One Franklin Square

5/23/14 3:29 PM EDT

The Washington Post has finalized a lease on its new headquarters at One Franklin Square, 1301 K St. NW, the company announced Friday.

The Post first began exploring a sale in early 2013, prior to its acquisition by Amazon founder Jeff Bezos. The new digs are a block-and-a-half south and a block-and-a-half east of the Post's current headquarters at 1150 15th St NW.

The Post plans to move into its new headquarters in 2016; it has occupied its current spot since 1950.